Health-equipment producer Interactive Energy (TRNR) mentioned it entered right into a securities buy settlement to boost as a lot as $500 million for purchasing Fetch.ai’s FET token as a crypto treasury technique.
The Nasdaq-listed firm is already within the course of of shopping for the tokens after elevating $55 million of latest capital from ATW Companions and DWF Labs, it mentioned in a launch shared with CoinDesk.
“Digital property are quickly changing into a necessary a part of international monetary infrastructure and AI is the largest technological leap in our lifetime,” CEO Trent Ward mentioned within the assertion. “We consider our technique to amass a major variety of $FET tokens may dramatically speed up our mission to create important long-term worth for TRNR shareholders.”
Interactive Energy, the maker of CLMBR and FORME branded tools, joins an extended checklist of public firms in U.S. which can be including cryptocurrencies to their steadiness sheets. Most, led by Technique (MSTR), are targeted on bitcoin
. None of those firms has acquired AI tokens like FET.
TRNR, which has a market cap of $8.4 million, will use BitGo for buying and selling and custody of its FET holdings, based on the press launch. Its shares rose 3.5% to 83 cents in pre-market buying and selling.
